Short-term stake in Tanzanian Gold Co. (NYSEAMERICAN:TRX) increases 45.7%


Tanzanian Gold Co. (NYSEAMERICAN:TRX – Get Rating) (NYSEMKT:TRX) was the target of strong short-term interest growth in May. As of May 15, there were short interests totaling 913,900 shares, up 45.7% from the total of 627,100 shares as of April 30. Based on an average daily trading volume of 1,860,000 shares, the short-term interest rate ratio is currently 0.5 days. Approximately 0.3% of the company’s shares are sold short.

Several equity research analysts have recently commented on TRX shares. HC Wainwright began covering Tanzanian Gold stocks in a research report on Tuesday, May 24. They issued a “buy” rating and a target price of $0.70 for the company. Zacks Investment Research upgraded shares of Tanzanian Gold from a “hold” rating to a “buy” rating and set a price target of $0.25 for the company in a Thursday, April 21 research note.

Institutional investors have recently changed their stock portfolios. Guild Investment Management Inc. increased its stake in Tanzanian Gold by 14.3% during the 4th quarter. Guild Investment Management Inc. now owns 400,000 shares of the basic materials company valued at $158,000 after buying an additional 50,000 shares last quarter. Renaissance Technologies LLC purchased a new stake in shares of Tanzanian Gold in the fourth quarter for a value of approximately $57,000. Finally, Virtu Financial LLC purchased a new stake in shares of Tanzanian Gold in the first quarter for a value of approximately $45,000. Institutional investors hold 0.97% of the company’s shares.

Shares of Tanzanian Gold stock rose $0.01 during Friday’s trading, hitting $0.33. The company’s stock had a trading volume of 980,479 shares, compared to its average volume of 1,378,265. The company has a market capitalization of $90.53 million, a price-earnings ratio of -16.50 and a beta of 0.83. Tanzanian gold has a 52-week low of $0.26 and a 52-week high of $0.60.

Tanzania Gold Company Profile (Get a rating)

The Tanzanian Gold Corporation is involved in the acquisition, financing, exploration and development of mineral properties in the United Republic of Tanzania. The company mainly explores gold deposits. It holds interests in the Buckreef gold project located in north-central Tanzania. The company was previously known as Tanzanian Royalty Exploration Corporation and changed its name to Tanzanian Gold Corporation in April 2019.

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